VA Construction Loans
For veterans and active-duty military, there is no maximum loan amount and allows for zero down payment.
Benefits of a VA Construction Loan
- No monthly payments due until home is built
- Flexible credit scores and debt-to-income ratios
- Shorter waiting period for past derogatory events (bankruptcy, short sale, foreclose)
- Save money with only one appraisal and set of closing costs
No need to worry about requalification once the construction is complete – you’ll only need to credit-qualify once. Rates are locked in prior to closing, with final terms converted to long-term financing terms once construction is finalized.
Primary residences only.
Schumacher Mortgage LLC (NMLS #2101256), an affiliate of Schumacher Homes
Benefits of Schumacher Mortgage
- Specialized in Construction Loans- Designed to simplify your home building journey.
- Seamless Experience- Close partnership with Schumacher Homes for smoother financing.
- Flexible Loan Programs - More options than many traditional banks.
- Personalized Service - Tailored solutions to meet your financial goals.
- Backed by Schumacher Homes -Strong support and trusted expertise.
- Freedom to Choose - You're welcome to use any lender that suits you best.
Understanding Construction Loans
Construction loans differ from traditional home loans. You can combine land and home costs into one loan, and a construction-to-permanent loan lets you lock in your interest rate before building begins. During construction, you make monthly interest-only payments based on funds disbursed. Lenders follow a draw schedule—releasing payments at key stages like foundation, roofing, drywall, and final completion. Inspections ensure progress before each draw. Schumacher Mortgage uses advanced technology to minimize delays between phase completion and inspection, helping your project stay on track. This efficient process keeps construction moving smoothly from start to finish.
Home Financing
Financing a custom home works differently than buying an existing one, but the process doesn’t have to be complicated. From construction loans to permanent financing, there are options designed specifically for new builds. With the right guidance, you can secure the funding you need and move through the process with confidence and ease.